Joint Inspection of Licensed Real Estate Offices in Gyeongnam Uncovers 20 Violations
Focus on Apartment Complexes Under 100 Million Won Excluded from Multi-Housing Regulations, Emphasizing Prevention of Balloon Effect
[Asia Economy Yeongnam Reporting Headquarters Reporter Park Saeyan] On the 8th, Gyeongnam Province conducted a joint inspection of licensed real estate agencies in six cities and districts, including Seongsan-gu and Jinhae-gu in Changwon City, Gimhae City, Yangsan City, Jinju City, and Geoje City, to stabilize the real estate market.
This was carried out to preemptively block the balloon effect following the designation of Seongsan-gu in Changwon City as a regulated area and Uichang-gu as a speculative overheating district, and to inspect the surge and overheating in transactions of houses (apartments) with official prices under 100 million KRW.
As a result of the inspection, two violations of the Licensed Real Estate Agents Act and 18 suspicious cases of violations of the Real Estate Transaction Reporting Act will undergo a detailed investigation.
Nine minor cases were corrected on-site.
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Meanwhile, last July, the province formed a 'Real Estate Transaction Illegal Activities Response Team' and conducted inspections on licensed real estate agents, resulting in administrative actions including three license cancellations, 30 business suspensions, and 20 fines.
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